At a Glance
- The Singapore-based digital bank serves 15 million customers across South Africa and the Philippines, adding 500,000 new users monthly.
- African Rainbow Capital’s Patrice Motsepe supports Tyme’s mission to transform banking in underserved regions through a “phygital” model.
- Tyme’s $250 million Series D funding, led by Nubank, accelerates its growth in emerging markets like Vietnam and beyond.
In a world where the financial sector is evolving at a very fast pace, Tyme Group, a Singapore-based digital banking group, has emerged on top with innovation and inclusivity. With a valuation of $1.5 billion following its latest funding round, this unicorn is rewriting the playbook for banking, offering a borderless, customer-centric platform tailored to emerging markets.
At the heart of Tyme Group’s success lies an influential shareholder: Patrice Motsepe, Africa’s first Black billionaire. While Motsepe did not found the company—Coen Jonker, a visionary entrepreneur, and Tyme’s CEO, co-founded it in 2019—Motsepe’s strategic investment through African Rainbow Capital (ARC) underscores his commitment to diversifying his portfolio beyond mining and into industries shaping the global economy.
Reinventing banking in emerging markets
Operating in South Africa, the Philippines, and soon Vietnam, Tyme Group has redefined the banking landscape for emerging markets, boasting over 15 million customers across two continents. Its “phygital” model—a blend of digital banking and physical service points through retail partnerships—has proven transformative, particularly in underserved regions where traditional banking infrastructure is limited.
In South Africa, where TymeBank launched in February 2019 as the country’s first greenfield digital bank, the platform has grown rapidly, now serving over 10 million customers. In the Philippines, GoTyme Bank, a joint venture with the Gokongwei Group launched in October 2022, has similarly gained traction, capturing market share. Combined, the group is onboarding 500,000 new customers monthly, with plans to replicate this success in Vietnam and beyond.
Backed by global investors
Tyme Group’s growth has been fueled by a stellar lineup of investors, including Motsepe’s African Rainbow Capital, Nubank, Tencent, the British International Investment (BII), and Apis Growth Fund II. In its oversubscribed Series D round, the company raised $250 million, led by Nubank’s $150 million investment.
“Nubank transformed financial services in Brazil. We are excited by the value Nubank’s thought partnership and advice can bring to Tyme, particularly in areas such as data analytics, credit risk management, product development, and marketing,” said Jonker.
The partnership is expected to accelerate Tyme’s growth, a sentiment echoed by Motsepe, who noted: “As the long-term strategic shareholder in Tyme, we enthusiastically welcome the partnership with leading global digital bank Nubank. We are convinced this will lead to an even higher and significantly accelerated growth trajectory for the multi-country Tyme Group.”
Building a better bank with a vision for the future
Unlike traditional banks that focus solely on profits, Tyme Group is dedicated to improving lives. Around 80 percent of its customers report reduced transaction fees, and 70 percent say the platform has enhanced their quality of life. These outcomes reflect the company’s mission to empower underserved communities through accessible, affordable, and innovative services.
“In the case of Tyme, our job is to help our customers reach their full potential,” said Jonker. “We still have a long way to go to do that job really well, but every day we get a bit better.” His words highlight Tyme’s vision of creating a bank that prioritizes people over profits.
Looking ahead to an IPO by 2028, Tyme Group’s ambitions go far beyond banking. Through TymeX, its multi-country technology and product development engine, the company is exploring new opportunities in Vietnam, India, and China, harnessing advanced analytics and AI to fuel growth. With its global headquarters in Singapore, Tyme is cultivating international partnerships and business development strategies that align with its expansion plans.
Unlocking financial potential
Patrice Motsepe, with a fortune of $2.7 billion according to Forbes, is not only Africa’s first Black billionaire but also the richest Black person in Southern Africa. For him, Tyme Group is more than just an investment; it symbolizes Africa’s potential to lead global innovation.
As the company continues to expand, it exemplifies the transformative power of fintech in bridging financial divides, creating new opportunities, and unlocking the full potential of emerging markets.
In just five years, Tyme has emerged as a dominant player in digital banking, positioning itself not only as a leader in emerging markets but also as a driving force behind the future of global finance. With its proven track record and clear vision, Tyme Group is not just preparing for the future—it’s actively shaping it.
